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Global Oxygen Therapy Equipment Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ 234.4 Mn by 2028, Likely to Grow with the CAGR of 7.6% During the Forecast Period.
Globally the individuals are increasing who are suffering from respiratory illnesses, that could be because of rising tobacco smoking and plunge in the geriatric population are vital factor propelling the market growth of oxygen therapy equipment worldwide. The Oxygen therapy supports in greater chances of survival of COPD patients and could decrease its complexities and symptoms are key drivers that are anticipated to plunge its market growth globally. Rising preference of portable oxygen therapy equipment’s during the standalone equipments are drivers boosting its market growth of the target market. Increase in the home based oxygen therapy and growth in the use of tele-monitoring along with telemedicine drives the expected to boost growth of the global oxygen therapy equipment market during the forecast period.
Rising Healthcare Industry in developing countries to drive the Demand for Oxygen Therapy Equipment
The healthcare industry is growing rapidly by an increase in the number of disease cases in the global market. It is because of the presence of supportive government policies that is fueling the market growth of healthcare sector. The oxygen therapy equipment markets are also a supportive factor in the sustenance of healthcare industry in the global market.
COPD Segment held prominent share in Global Oxygen Therapy Equipment Market in 2019
The COPD is anticipated to be the fastest growing application segment worldwide for the oxygen therapy equipment market supported by the increasing rate of tobacco smoking and a rising prevalence of respiratory diseases supported by the rise in geriatric population are by the vital drivers such as asthma and chronic obstructive pulmonary disease (COPD). Cystic fibrosis (CF) is a chronic inherited illness increase of thick mucus that is produced in the lungs, pancreas, and other organs of the body. By respiratory challenges people are experiencing by the cystic fibrosis.
The North America Is expected to dominate the Oxygen Therapy Equipment Market during the Forecast Period
The North America is anticipated to dominate the global market of oxygen therapy equipment supported by the growing geriatric population of this region, rising clinics & hospitals, are creating awareness regarding the oxygen therapy. However, a rise in the investments for healthcare & healthcare expenditure, and an increasing air pollution levels in China and India are anticipated to propel the market growth in the Asia-Pacific region.
Global oxygen therapy equipment market is consolidated with key players holding major share of global oxygen therapy equipment market. There is a substantial amount of investments being made by the organizations to expand their geographical presence that supports in the competitiveness.
Key players operating in the global oxygen therapy equipment market are Invacare Corporation, Linde Healthcare, Essex Industries, Inc., Becton, Dickinson and Company, Smiths Medical, Teleflex Incorporated, Fisher & Paykel Healthcare Corporation Limited, Chart Industries, Inc., Respan Products Inc., Philips Healthcare, DeVilbiss Healthcare, Inogen, Inc., Messer Medical Austria GmbH, Allied Healthcare Products Inc., and Medicop D.O.O.
Global Oxygen Therapy Equipment Market Key Segments:
Global Oxygen Therapy Equipment Market, By Application
- COPD (Chronic Obstructive Pulmonary Disease)
- Cystic Fibrosis
- Respiratory Distress Syndrome
- Other Application
Global Oxygen Therapy Equipment Market, By Portability
- Stationary equipment
- Portable equipment
Global Oxygen Therapy Equipment Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America